CRISIL Ltd is a global analytical company providing ratings, research, and risk and policy advisory services. The company is India's leading ratings agency. They are also the foremost provider of high-end research to the world's largest banks and leading corporations. CRISIL is majority owned by S&P Global Inc., a leading provider of transparent and independent ratings, benchmarks, analytics and data to the capital and commodity markets worldwide.
CRISIL operates through two segments: Ratings and Research. Rating services include credit ratings for corporates, banks, small and medium enterprises (SME), training in the credit rating field, credit analysis services, grading services and global analytical services. Research segment provides equity research, industry reports, customized research assignments, subscription to data services and initial public offer grading. It operates from seven research centers worldwide.
CRISIL was incorporated in the year 1987 with the name Credit Rating Information Services of India Ltd. The company was promoted by leading financial institutions, nationalised banks, foreign banks and private sector banks. During the year 1995-96, they formed a strategic alliance with Standard & Poor's rating group, New York. They also made a tie up with International Information Vendors for dissemination of CRISIL Ratings. The company launched CRISIL 500 equity index during the year.
During the year 1996-97, the company introduced the ratings on mutual funds, bank loan ratings and public finance ratings. During the next year, they developed and launched municipal bond ratings and also launched financial strength rating for insurance companies. The company with National Stock Exchange set up a joint venture company with the name IISL for undertaking index business and related activities. They also launched Crisil MNC Index and Crisil Indian Business Groups Index during the year.
In February 2008, the company reached a preliminary understanding with Equifax Inc, USA and Tata Capital Ltd for setting up a Credit Information Company in India. They also proposed to set up a subsidiary in Poland and Duabi through their wholly owned subsidiary, Irevana Ltd, UK.
In the year 2008, CRISIL Infrastructure Advisory was reorganised with the seperation of business development and delivery functions. They completed a large number of international engagements. The company divested 90% of their equity in their UK subsidiary, Gas Strategies Group Ltd (GSG), to the GSG management team. The company now has a 10% shareholding in the company.
In the year 2009, the company launched a first-of-its-kind publication, India's Top 50 Microfinance Institutions, profiling the leading microfinance institutions in India. They assigned India's first-ever rating for securitisation of microfinance receivables. They introduced CreditAlerts to provide Insights to market participants on trends in specific sectors. They extended operations at Global Analytical Centre to 24/6 to provide real-time support o Standard& Poor's during Us market hour
In 2017, CRISIL launched smefirst, an online platform that allows SMEs easy access to ratings and other related services. During the year, CRISIL acquired 8.9% stake in rival credit rating agency CARE Ratings. During the year, CRISIL launched India's first infrastructure investability index. Small Industries Development Bank of India (SIDBI) and CRISIL signed a MoU to launch India's first MSME Sentiment index named CriSidEx. During the year, CRISIL launched rankings for unit linked insurance plans (ULIPs).Also during the year, CRISIL entered into a definitive agreement to acquire 100% stake in Pragmatix Services Private Limited, a data analytics company. Headquartered in Mumbai, Pragmatix provides analytics and solutions to retail and commercial banks, financial institutions, asset managers, insurers and telecom companies. Pragmatix provides solutions across the risk, sales, and finance domains in India, Middle East and North America. Pragmatix's intellectual property includes a proprietary enterprise data analytics platform with pre-configured data models, KPIs and algorithms that offer accelerated business solutions.